UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported): October 2, 1998
(October 2, 1998)
Commission File Number 0-13400
NTS-PROPERTIES V, a Maryland Limited Partnership
(Exact name of registrant as specified in its charter)
Maryland 61-1051452
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
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Item 5. Other Items
The recently announced contract for the sale of the University Business Center
properties may be in jeopardy. On September 8, 1998, the Partnership and the
Lakeshore/University II Joint Venture entered into a contract with Silver City
Properties, Ltd. ("the Purchaser"), an affiliate of Full Sail Recorders, Inc.,
for the sale of the University Business Center properties for an aggregate
purchase price of $18,751,000. Full Sail is the primary tenant of University
Business Center, leasing and occupying more than 60% of the center. The contract
called for a closing date on the properties no later than November 7, 1998. The
Purchaser, requested an early closing date of September 28, 1998. The
Partnership, specifically Lakeshore/University II Joint Venture, was prepared to
close at this time. The closing was rescheduled daily from September 28, 1998 to
October 2, 1998. The contract remains in force and the Purchaser has until
November 7, 1998 to close. As a result of the Purchaser's failure to close on
five consecutive dates, it is the opinion of the General Partner that the entire
transaction may be in jeopardy.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NTS-PROPERTIES V, a Maryland
Limited Partnership
(Registrant)
By: NTS-Properties Associates V
BY: NTS Capital Corporation,
General Partner
/s/Lynda J. Wilbourn
Lynda J. Wilbourn
Vice President
Date: October 2, 1998
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